Nomura Initiates Coverage on China Mobile Adr (CMGE)
Nomura started coverage on shares of China Mobile Adr (NASDAQ:CMGE) in a research note issued on Monday. The firm set a “buy” rating and a $32.00 price target on the stock. Nomura’s price objective would indicate a potential upside of 72.97% from the company’s current price.
Shares of China Mobile Adr (NASDAQ:CMGE) opened at 18.50 on Monday. China Mobile Adr has a 52-week low of $10.05 and a 52-week high of $40.31. The stock has a 50-day moving average of $18.90 and a 200-day moving average of $24.11. The company has a market cap of $574.5 million and a price-to-earnings ratio of 36.70.
China Mobile Adr (NASDAQ:CMGE) last posted its quarterly earnings results on Friday, May 16th. The company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.09. The company had revenue of $34.50 million for the quarter, compared to the consensus estimate of $30.23 million. The company’s revenue for the quarter was up 488.2% on a year-over-year basis. On average, analysts predict that China Mobile Adr will post $1.04 earnings per share for the current fiscal year.
A number of other analysts have also recently weighed in on CMGE. Analysts at Barclays initiated coverage on shares of China Mobile Adr in a research note on Thursday, April 3rd. They set an “overweight” rating and a $32.00 price target on the stock. Analysts at Brean Capital raised their price target on shares of China Mobile Adr from $28.00 to $45.00 in a research note on Thursday, February 27th.
China Mobile Games and Entertainment Group Limited (NASDAQ:CMGE) is a holding company.
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